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FxNews—Bitcoin Technical Analysis
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Nov 05, 2024 at 17:06
Ethereum Eyes $2,480 Break with Double Bottom Pattern
FxNews—Ethereum has formed a double bottom pattern and is currently testing the $2,480 resistance level. Meanwhile, the Awesome Oscillator signals divergence with green bars approaching the zero line from below. This development in the price action and the AO indicator suggests that Ethereum’s price has the potential to rise further.
From a technical perspective, the bullish wave could resume if ETH/USD exceeds $2,480. In this scenario, the next bullish target could be the $2,560 resistance level.
Conversely, a dip below the $2,380 support would invalidate the bullish outlook.
FxNews—Ethereum has formed a double bottom pattern and is currently testing the $2,480 resistance level. Meanwhile, the Awesome Oscillator signals divergence with green bars approaching the zero line from below. This development in the price action and the AO indicator suggests that Ethereum’s price has the potential to rise further.
From a technical perspective, the bullish wave could resume if ETH/USD exceeds $2,480. In this scenario, the next bullish target could be the $2,560 resistance level.
Conversely, a dip below the $2,380 support would invalidate the bullish outlook.
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